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WASHINGTON – The International Monetary Fund is working on a new Ukraine trust fund instrument to allow bilateral donor countries to contribute resources to the war-torn country as it battles a Russian invasion, an IMF official said on Monday.
A $1.4 billion emergency loan for Ukraine approved by the IMF last week is currently the maximum that Ukraine can borrow directly from the Fund current rules for the IMF’s Rapid Financing Instrument, the official said.
Any additional near-term IMF-administered funding for Ukraine will come from bilateral donors, the official said, adding that the IMF’s emergency loan is having a “catalytic” effect in encouraging donations.
(Reporting by David Lawder and Andrea Shalal)
